HARTFORD, Conn., July 16, 2021 /PRNewswire/ -- Allianz Global
Investors U.S. LLC (AllianzGI), which manages certain Virtus
closed-end funds in a subadvisory capacity, announced that as of
March 1, 2022 Douglas G. Forsyth will
step down as a co-portfolio manager of Virtus AllianzGI Convertible
& Income Fund (NYSE: NCV), Virtus AllianzGI Convertible &
Income Fund II (NYSE: NCZ), Virtus AllianzGI Convertible &
Income 2024 Target Term Fund (NYSE: CBH), and Virtus AllianzGI
Diversified Income & Convertible Fund (NYSE: ACV), Virtus
AllianzGI Equity & Convertible Income Fund (NYSE: NIE), and
Virtus Dividend, Interest & Premium Strategy Fund (NYSE:
NFJ)
There will be no changes to the investment processes for these
funds, which are team oriented.
About the Funds
Virtus AllianzGI Convertible & Income Fund and Virtus
AllianzGI Convertible & Income Fund II each have an
investment objective to provide total return through a combination
of capital appreciation and high current income with income as a
secondary objective. Virtus AllianzGI Convertible & Income
2024 Target Term Fund's investment objectives are to provide a high
level of income and to return at least $9.835 per common share (the original net asset
value per common share of beneficial interest before deducting
offering costs of $0.02 per share) to
holders of common shares on or about September 1, 2024. Virtus AllianzGI
Diversified Income & Convertible Fund's investment
objective is to provide total return through a combination of
current income and capital appreciation, while seeking to provide
downside protection against capital loss. Virtus AllianzGI Equity
& Convertible Income Fund seeks total return comprising
capital appreciation, current income, and gains. Virtus Dividend,
Interest & Premium Strategy Fund seeks current income and
gains, with long-term capital appreciation as a secondary
objective.
For more information on these funds, contact shareholder
services at 800-254-5197, by email at closedendfunds@virtus.com, or
through the closed-end fund section on the web at
www.virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk
of possible loss of principal. A fund's shares may be worth less
upon their sale than what an investor paid for them. Shares of
closed-end funds may trade at a premium or discount to their net
asset value. For more information about each fund's investment
objective and risks, please see the fund's annual report. A copy of
the fund's most recent annual report may be obtained free of charge
by contacting "Shareholder Services" as set forth at the end of
this press release.
About Allianz Global Investors
Allianz Global Investors or AllianzGI is a leading
active asset manager with over 750 investment professionals in 25
offices worldwide and manages assets for individuals, families and
institutions. The investment team has extensive experience managing
closed-end funds and a differentiated, multi-asset approach based
on fundamental research designed to dynamically allocate across
convertible securities and equities.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The
company provides investment management products and services
through its affiliated managers and select subadvisers, each with a
distinct investment style, autonomous investment process, and
individual brand. For
more information, visit www.virtus.com.
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SOURCE Virtus Funds